Moody’s: RBNZ to Keep Rates Unchanged on Wednesday

The Reserve Bank of New Zealand is likely to keep the official cash rate unchanged at 5.5% at its policy meeting on Wednesday, Moody’s Analytics said in its Asia Pacific Economic Outlook report.
The RBNZ noted that it would remain on the sidelines after an aggressive tightening program, waiting for the impact of earlier rate hikes to play out.
Household budgets are coming under increasing pressure and the labor market appears to be loosening, easing underlying price pressures, Moody’s Analytics added.